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Employee Realization andEnhanced Billing Features inVision 7.0Deb Eastberg, Senior Designer, DeltekMike Klaus, Product Dir...
AgendaFee Allocation:     How can I see accurate income on my financials?     How can I see correct JTD Billings on my W...
Fee Income       General information and Billing Category       Option3   ©2012 Deltek, Inc. All Rights Reserved
Fee Allocation: Why Do This?On Fixed Fee jobs:  You want to be able to match up income and expenses on   financials (I pa...
Enable Entry of Fee by    Billing Category5    ©2012 Deltek, Inc. All Rights Reserved
Default Categories6    ©2012 Deltek, Inc. All Rights Reserved
If Using Revenue Categories7    ©2012 Deltek, Inc. All Rights Reserved
Billings by Configuration Revenue    Categories8    ©2012 Deltek, Inc. All Rights Reserved
Income Using Billing CategoryWhat’s different?Fee Income is posted:  To GL Accounts as determined in Configuration  By D...
Fee Income Allocation        Based on Transaction Detail10   ©2012 Deltek, Inc. All Rights Reserved
Allocation Based on Transaction     Detail (Billing or Cost)11    ©2012 Deltek, Inc. All Rights Reserved
Fee Allocation12    ©2012 Deltek, Inc. All Rights Reserved
Without Allocation by       Transaction Detail     Full amount went to one Fee account     Full amount went to first Phase...
Fee Revenue Allocation:        $3,000 InvoiceLabor: Account 400.00Name         Hours                             Cost    B...
Income Allocation Based on Bill     Value                                               Consultant Revenue                ...
Income Allocation Based on Cost                                               Consultant Revenue                          ...
Project Detail with Multiple     PhasesTasks17     ©2012 Deltek, Inc. All Rights Reserved
With Allocation by     Transaction Detail18
Income Allocation Based on         Transaction DetailWhat’s different?Fee Income is posted:  To GL Accounts as determined...
Straw Poll!How many would use one of the new Fee Allocationfeatures?   Billing Category?   Transaction Detail?20       ©...
Employee Realization        General Information21   ©2012 Deltek, Inc. All Rights Reserved
Employee Realization:           Why Do This?Ability to see actual billed amounts by employee(rather than potential bill va...
What Revenue Will Be Assigned as       Realization?Vision allows you to assign specific revenue accountsto use for employe...
How Does This Affect the GL?It doesn’t!This feature is for Employee reporting purposes onlysuch as: Labor Detail Time An...
ConfigurationAccountingSystem            ReportingSelect method  (Billing, Cost  or Hours) and                            ...
Employee Realization        Examples of allocation calculations26   ©2012 Deltek, Inc. All Rights Reserved
Fee Revenue AllocationLabor:Name          Hours                           Cost   Bill ValueTom           5                ...
Fee Income Allocated by Cost             (Income Allocation Feature)     Account 400.00 is included in Allocation accounts...
Realization Allocated by Billing        Value     Realization Amount to be distributed = 164.99     Total Billing value = ...
Realization Allocated by             Cost Value     Realization Amount to be distributed = 164.99     Total Cost = 164.99 ...
Realization Allocated by Hours     Note: Hours shown are rounded, but allocation is done based on actual hours.          R...
Realization Allocation By InvoiceWhen Realization Allocation occurs By Invoice:The income from the invoice is allocated to...
Employee Realization By PeriodThis option looks at revenue (based on Allocation Accounts from Configuration) forthe accoun...
Realization Amounts can be Manually Changed     (By Invoice or By Period) as Long as     Total Realization = Invoice Total...
Employee Specific Units35   ©2012 Deltek, Inc. All Rights Reserved
When Would You Need Employee              Specific Units?Time and Material billingYou must invoice your clients for Units ...
Employee Specific UnitsUnits can be “employee specific” if using theRealization Allocation feature.The employee receives t...
Employee Specific RevenueEmployee Specific Revenue Unitsmust use a Revenue account listedwithin Configuration.38          ...
Unit Transaction EntryEmployee Specific Units must be assigned to an employee(Transaction Center, Units on Time Sheets or ...
Interactive Billing: Delete Lab Test Time Records So     They Will Not Show Up on the Invoice40     ©2012 Deltek, Inc. All...
Phase 02Task 0XYZ41    ©2012 Deltek, Inc. All Rights Reserved
Phase A000Task 0XYZ42    ©2012 Deltek, Inc. All Rights Reserved
Phase A000Task T00043
Realization Allocation and Units Based on billingWhen Realization Allocation occurs the realization is removedfrom the Uni...
Realization Allocation Based on billingNote that the Realization for phase 02Task 0XYZ is dividing up the $200 laborbased ...
Written Off RecordsWhen using BY INVOICE in configuration written off recordsare set to zero realization when Invoiced (Fi...
Reports47   ©2012 Deltek, Inc. All Rights Reserved
Realization and ReportsLabor Detail: Realization Column and Employee SpecificUnitsAccounts ReceivableInvoice Transaction D...
Employee Labor Detail     Employee Labor Detail shows employee specific Units and has a new column     option for Realizat...
Employee Labor Detail When Units            Billed During the Realization Allocation process realization is removed from t...
New Accounts Receivable Report51    ©2012 Deltek, Inc. All Rights Reserved
Invoice Transaction DetailUse this report as:      Billed time and expense report      To see Realization amounts for ea...
New Report: Unit Detail     Use the options to see:      Units by Employee      Units by Project      Units by Unit Typ...
New Columns on Time Analysis     Realization Amount will include inserted records from Interactive     Billing, values fro...
Realization Hours on Time Analysis                                               Worked 15 hours.                         ...
Credit Memos        New Vision 7.0 Feature56   ©2012 Deltek, Inc. All Rights Reserved
Why Create a Credit Memo?You want or need to:Provide the client with a document showing a full or partialreduction of a pr...
Credit TemplateCreate a credit memo template based on your InvoiceTemplate and assign it in Billing Terms.58         ©2012...
Credit MemosCan only be created through Interactive BillingInvoices on FileSelect the invoiceSelect the Credit Memo option59
Invoice Number of Credit MemoIf you allowchanges toinvoicenumbers….                                                       ...
Invoice Credit Dialog61     ©2012 Deltek, Inc. All Rights Reserved
Credit Memo Report62    ©2012 Deltek, Inc. All Rights Reserved
Credit Memos and     Realization — By Invoice63    ©2012 Deltek, Inc. All Rights Reserved
Credit Memos and         Realization — By Period Credit Memos posted within the Range of Account Periods will reduce the i...
Credit Memo is Different than               VoidingCredit memos:        Will not unflag time and expenses as billed.     ...
Voiding an InvoiceVoiding an Invoice:Will reverse the full amount of the invoice.Will unflag billed records and will rever...
SummaryNew Billing Features                                       Employee Realization        Fee Income Allocation      ...
Questions?Deb EastbergDebEastberg@deltek.comMike KlausMikeKlaus@deltek.com
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Deltek Insight 2012: Employee Realization and Enhanced Billing Features in Vision 7.0

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Discover how you can allocate income to your employees through the use of the employee realization feature. This session will cover the basic configuration setup and ways to allocate income to the time record level. We will also discuss employee specific units as a way of tracking your employee productivity. Also, discover how the new fee income allocation feature can help you to more accurately track income on projects and financials -- and how printed credit memos will make it easier for you to see reductions in income and why they occurred. Intermediate Level.

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Deltek Insight 2012: Employee Realization and Enhanced Billing Features in Vision 7.0

  1. 1. Employee Realization andEnhanced Billing Features inVision 7.0Deb Eastberg, Senior Designer, DeltekMike Klaus, Product Director, DeltekPS-18
  2. 2. AgendaFee Allocation:  How can I see accurate income on my financials?  How can I see correct JTD Billings on my WBS levels on Project Reports?  Is there a way I can establish where I want income to post on fee amounts?Employee Realization:  I want to see how much income my employee has generated.  Do I have employees that generate more income or who’s hours are worth more than other employees?Credit Memos2 ©2012 Deltek, Inc. All Rights Reserved
  3. 3. Fee Income General information and Billing Category Option3 ©2012 Deltek, Inc. All Rights Reserved
  4. 4. Fee Allocation: Why Do This?On Fixed Fee jobs:  You want to be able to match up income and expenses on financials (I paid $10,000 in consultant expenses, I better have $11,000 in consultant income).  More accurate alignment of billed values on project reports (Labor, Direct Consultants, Direct Expenses)  More accurate distribution of income to Phases and Tasks How does Vision do this?  Vision lets you manually control the allocation  Vision allocates based on time and expense detail4 ©2012 Deltek, Inc. All Rights Reserved
  5. 5. Enable Entry of Fee by Billing Category5 ©2012 Deltek, Inc. All Rights Reserved
  6. 6. Default Categories6 ©2012 Deltek, Inc. All Rights Reserved
  7. 7. If Using Revenue Categories7 ©2012 Deltek, Inc. All Rights Reserved
  8. 8. Billings by Configuration Revenue Categories8 ©2012 Deltek, Inc. All Rights Reserved
  9. 9. Income Using Billing CategoryWhat’s different?Fee Income is posted:  To GL Accounts as determined in Configuration  By Dollar amount assignments made in Billing Terms.What’s the same?Fee Income is posted to the first PhaseTask (WBS1WBS2).Invoice formats are not affected.9 ©2012 Deltek, Inc. All Rights Reserved
  10. 10. Fee Income Allocation Based on Transaction Detail10 ©2012 Deltek, Inc. All Rights Reserved
  11. 11. Allocation Based on Transaction Detail (Billing or Cost)11 ©2012 Deltek, Inc. All Rights Reserved
  12. 12. Fee Allocation12 ©2012 Deltek, Inc. All Rights Reserved
  13. 13. Without Allocation by Transaction Detail Full amount went to one Fee account Full amount went to first PhaseTask (WBS2WBS3) on the project.13 ©2012 Deltek, Inc. All Rights Reserved
  14. 14. Fee Revenue Allocation: $3,000 InvoiceLabor: Account 400.00Name Hours Cost Bill ValueTom 5 100 200Dick 3 40 100Harry 1 25 75 9 $165 $375Consultant: Account 400.01ABC Vendor $1000 $1100Expenses: Account 400.02 $500 $550Total $1665 $2025OverUnder Account 111114 ©2012 Deltek, Inc. All Rights Reserved
  15. 15. Income Allocation Based on Bill Value Consultant Revenue Expense Revenue Labor Revenue OverUnder Account15 ©2012 Deltek, Inc. All Rights Reserved
  16. 16. Income Allocation Based on Cost Consultant Revenue Expense Revenue Labor Revenue OverUnder Account16 ©2012 Deltek, Inc. All Rights Reserved
  17. 17. Project Detail with Multiple PhasesTasks17 ©2012 Deltek, Inc. All Rights Reserved
  18. 18. With Allocation by Transaction Detail18
  19. 19. Income Allocation Based on Transaction DetailWhat’s different?Fee Income is posted:  To GL Accounts as determined in ConfigurationBilling Terms  By percentage of Cost or Billing.  To the Work Breakdown Structure of the time and expense records.What’s the same?Invoice formats are not affected.19 ©2012 Deltek, Inc. All Rights Reserved
  20. 20. Straw Poll!How many would use one of the new Fee Allocationfeatures?  Billing Category?  Transaction Detail?20 ©2012 Deltek, Inc. All Rights Reserved
  21. 21. Employee Realization General Information21 ©2012 Deltek, Inc. All Rights Reserved
  22. 22. Employee Realization: Why Do This?Ability to see actual billed amounts by employee(rather than potential bill value)Ability to see a “profitability” by employeeSome companies use the realization amounts orrealization hours when calculating bonuses. Vision allows you to Allocate Realization:  When Invoicing  Manually, By Period22 ©2012 Deltek, Inc. All Rights Reserved
  23. 23. What Revenue Will Be Assigned as Realization?Vision allows you to assign specific revenue accountsto use for employee realization (LaborIncome, OverUnder Account)These revenue amounts are applied to billed timerecords based on Hours, Cost or Bill value.Units can now be assigned to an employee. Theunit’s bill value will be employee specific income.23 ©2012 Deltek, Inc. All Rights Reserved
  24. 24. How Does This Affect the GL?It doesn’t!This feature is for Employee reporting purposes onlysuch as: Labor Detail Time AnalysisAfter the feature is enabled new time records willhave default Realization Amount = Billing extensionTime records posted prior to enabling the feature willhave Realization Amounts = 0.0024 ©2012 Deltek, Inc. All Rights Reserved
  25. 25. ConfigurationAccountingSystem ReportingSelect method (Billing, Cost or Hours) and Only accounts frequency. assigned here will be used to allocate realization to time records.25 ©2012 Deltek, Inc. All Rights Reserved
  26. 26. Employee Realization Examples of allocation calculations26 ©2012 Deltek, Inc. All Rights Reserved
  27. 27. Fee Revenue AllocationLabor:Name Hours Cost Bill ValueTom 5 100 200Dick 3 40 100Harry 1 25 75 9 165 375ConsultantABC Vendor 1000 1100Expenses 500 55027 ©2012 Deltek, Inc. All Rights Reserved
  28. 28. Fee Income Allocated by Cost (Income Allocation Feature) Account 400.00 is included in Allocation accounts list so Realization will be 164.99. If the OverUnder account were also included in account list the amount to be allocated would be $1,335.01 + 164.99 = 1,500.00 Consultant Revenue Expense Revenue Labor Revenue OverUnder Account28 ©2012 Deltek, Inc. All Rights Reserved
  29. 29. Realization Allocated by Billing Value Realization Amount to be distributed = 164.99 Total Billing value = 374.99 % of Bill value Realization Amount 99.99/374.99 = 26.66% 26.66% * 164.99 = 43.99 75/374.99 = 20.00% 20% * 164.99 = 33.00 200/374.99 = 53.34% 53.34 * 164.99 = 88.0029 ©2012 Deltek, Inc. All Rights Reserved
  30. 30. Realization Allocated by Cost Value Realization Amount to be distributed = 164.99 Total Cost = 164.99 % of Cost Realization Amount 39.99/164.99 = 24.23% 24.23% * 164.99 = 39.99 25/164.99 = 15.15% 15.15% * 164.99 = 25.00 100/164.99 = 60.60% 60.60% * 164.99 = 100.0030 ©2012 Deltek, Inc. All Rights Reserved
  31. 31. Realization Allocated by Hours Note: Hours shown are rounded, but allocation is done based on actual hours. Realization Amount to be distributed = 164.99 Total Hours = 9.0 % of Hours Realization Amount 3/9 = 33.33% 33.33% * 164.99 = 55.00 1/9 = 11.11% 11.11% * 164.99= 18.33 5/9 = 55.55% 55.55% * 164.99 = 91.6631 ©2012 Deltek, Inc. All Rights Reserved
  32. 32. Realization Allocation By InvoiceWhen Realization Allocation occurs By Invoice:The income from the invoice is allocated to the records billedagainst the invoice.The process will occur automatically, even when using BatchBilling, or if the billing clerk does not have rights to RealizationAllocation.32 ©2012 Deltek, Inc. All Rights Reserved
  33. 33. Employee Realization By PeriodThis option looks at revenue (based on Allocation Accounts from Configuration) forthe accounting periods.Time and Expenses that were posted in the period(s) that have been BILLED(regardless of billing period)33 ©2012 Deltek, Inc. All Rights Reserved
  34. 34. Realization Amounts can be Manually Changed (By Invoice or By Period) as Long as Total Realization = Invoice Total34 ©2012 Deltek, Inc. All Rights Reserved
  35. 35. Employee Specific Units35 ©2012 Deltek, Inc. All Rights Reserved
  36. 36. When Would You Need Employee Specific Units?Time and Material billingYou must invoice your clients for Units such as:  Lab Tests  Expert Testimony  Travel Day  On SiteYou cannot also bill for the employee hours.You want the realization for these units to be applied to aspecific employee.36 ©2012 Deltek, Inc. All Rights Reserved
  37. 37. Employee Specific UnitsUnits can be “employee specific” if using theRealization Allocation feature.The employee receives the bill value for that unit.37 ©2012 Deltek, Inc. All Rights Reserved
  38. 38. Employee Specific RevenueEmployee Specific Revenue Unitsmust use a Revenue account listedwithin Configuration.38 ©2012 Deltek, Inc. All Rights Reserved
  39. 39. Unit Transaction EntryEmployee Specific Units must be assigned to an employee(Transaction Center, Units on Time Sheets or InteractiveBilling Unit Inserts)39 ©2012 Deltek, Inc. All Rights Reserved
  40. 40. Interactive Billing: Delete Lab Test Time Records So They Will Not Show Up on the Invoice40 ©2012 Deltek, Inc. All Rights Reserved
  41. 41. Phase 02Task 0XYZ41 ©2012 Deltek, Inc. All Rights Reserved
  42. 42. Phase A000Task 0XYZ42 ©2012 Deltek, Inc. All Rights Reserved
  43. 43. Phase A000Task T00043
  44. 44. Realization Allocation and Units Based on billingWhen Realization Allocation occurs the realization is removedfrom the Units assigned to the employee and applied to timerecords for the employee.If no time records exist for the employee during RealizationAllocation the unit will maintain its realization.44 ©2012 Deltek, Inc. All Rights Reserved
  45. 45. Realization Allocation Based on billingNote that the Realization for phase 02Task 0XYZ is dividing up the $200 laborbased on percentage of bill value. Options:1. Override the amounts in this screen2. Enter time records to “Testing” project and Units to billable project.3. Write off the labor records or use a non billable Labor Code. The hours will have zero realization but the unit realization will stay with the employee.45 ©2012 Deltek, Inc. All Rights Reserved
  46. 46. Written Off RecordsWhen using BY INVOICE in configuration written off recordsare set to zero realization when Invoiced (Final Written Offstatus X).When using BY PERIOD in configuration the written offrecords are set to zero realization when the BY PERIODprocess is run (Final Written Off status X).46 ©2012 Deltek, Inc. All Rights Reserved
  47. 47. Reports47 ©2012 Deltek, Inc. All Rights Reserved
  48. 48. Realization and ReportsLabor Detail: Realization Column and Employee SpecificUnitsAccounts ReceivableInvoice Transaction DetailUnit Detail: Employee Information and Unit TypeTime Analysis: Realization, Hours and Ratios48 ©2012 Deltek, Inc. All Rights Reserved
  49. 49. Employee Labor Detail Employee Labor Detail shows employee specific Units and has a new column option for Realization Amount.49 ©2012 Deltek, Inc. All Rights Reserved
  50. 50. Employee Labor Detail When Units Billed During the Realization Allocation process realization is removed from the Units assigned to the employee and applied to time records. Since the units have no hours, no cost and no realization they are not displayed. If no time records exist during realization allocation the unit will maintain its Realization and will continue to display on this report.50 ©2012 Deltek, Inc. All Rights Reserved
  51. 51. New Accounts Receivable Report51 ©2012 Deltek, Inc. All Rights Reserved
  52. 52. Invoice Transaction DetailUse this report as:  Billed time and expense report  To see Realization amounts for each invoice  To review fee income allocation52 ©2012 Deltek, Inc. All Rights Reserved
  53. 53. New Report: Unit Detail Use the options to see:  Units by Employee  Units by Project  Units by Unit Type  Units by Time Frame  Unposted units included  Final Totals53 ©2012 Deltek, Inc. All Rights Reserved
  54. 54. New Columns on Time Analysis Realization Amount will include inserted records from Interactive Billing, values from Employee Specific Units, and expected Realization from unbilled records. Realization Hours is calculated as Realization Amount divided by Provisional Billing Rate (from Employee Info Center) New Ratios exist that use Realization Hours54 ©2012 Deltek, Inc. All Rights Reserved
  55. 55. Realization Hours on Time Analysis Worked 15 hours. Realization is $3,000 Provisional Bill Rate is $150.00 Realization Hours =3,000/150 20 Realization Hours .55 ©2012 Deltek, Inc. All Rights Reserved
  56. 56. Credit Memos New Vision 7.0 Feature56 ©2012 Deltek, Inc. All Rights Reserved
  57. 57. Why Create a Credit Memo?You want or need to:Provide the client with a document showing a full or partialreduction of a previous invoice.See credit memos as a separate transaction on reports (not aninvoice adjustment).Reprint the credit memo at a later time.Add AR Comments to the credit memo transaction as youwould other invoices.57 ©2012 Deltek, Inc. All Rights Reserved
  58. 58. Credit TemplateCreate a credit memo template based on your InvoiceTemplate and assign it in Billing Terms.58 ©2012 Deltek, Inc. All Rights Reserved
  59. 59. Credit MemosCan only be created through Interactive BillingInvoices on FileSelect the invoiceSelect the Credit Memo option59
  60. 60. Invoice Number of Credit MemoIf you allowchanges toinvoicenumbers…. You can assign the invoice number (including alpha characters) during creating of the credit memo.60 ©2012 Deltek, Inc. All Rights Reserved
  61. 61. Invoice Credit Dialog61 ©2012 Deltek, Inc. All Rights Reserved
  62. 62. Credit Memo Report62 ©2012 Deltek, Inc. All Rights Reserved
  63. 63. Credit Memos and Realization — By Invoice63 ©2012 Deltek, Inc. All Rights Reserved
  64. 64. Credit Memos and Realization — By Period Credit Memos posted within the Range of Account Periods will reduce the income available for realization allocation.64 ©2012 Deltek, Inc. All Rights Reserved
  65. 65. Credit Memo is Different than VoidingCredit memos:  Will not unflag time and expenses as billed.  Can be for the full or partial amount of the invoice.  Prints out a Credit Memo document to send to the customer.  Can reduce realization amounts.  Show as separate transactions on reports and Project Review65 ©2012 Deltek, Inc. All Rights Reserved
  66. 66. Voiding an InvoiceVoiding an Invoice:Will reverse the full amount of the invoice.Will unflag billed records and will revert Deleted and Writtenoff records from:  Final Deleted (O) to Deleted (D)  Final Written off (X) Written Off (W)Will NOT reset realization amounts on time records. Therealization amounts will be recalculated when the records areFinal Billed again and:  The next final invoice process occurs (BY INVOICE)  The Realization process is run manually (BY PERIOD)66 ©2012 Deltek, Inc. All Rights Reserved
  67. 67. SummaryNew Billing Features Employee Realization  Fee Income Allocation  Realization Allocation methods  By Billing Category  Employee Specific Units  By Transaction Detail  Reports  Credit Memos67 ©2012 Deltek, Inc. All Rights Reserved
  68. 68. Questions?Deb EastbergDebEastberg@deltek.comMike KlausMikeKlaus@deltek.com

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